James Comey yesterday gave testimony to the US Senate over his relationship with Donald Trump and how the President behaved. There is currently a major investigation into Trump’s relationship with Russia during the election and whether or not he has tried to interfere with the review into that relationship.
Comey who was eventually fired by Trump a few months ago was always going to give a fairly cynical opinion of Trump and it has now confirmed many people’s suspicions.
Donald Trump today challenged James Comey’s testimony describing him as a “leaker” despite knowing that the former FBI Director was under oath. Trump’s legal team are thought to be planning to file a complaint against Comey for sharing memos of their conversations with the New York Times.
Whilst Trump may come under fire it seems incredibly unlikely much will come from this. After all the Senate may well try to find out the truth but managing to prove Trump directly interfered will be near impossible to prove, especially as its one person’s word against another.
Next Week US Interest Rate Decision
Next week is a very busy week for the US Dollar with a huge amount of data releases. Most importantly the Federal Reserve will reveal their latest interest rate decision on Wednesday which is likely to be volatile. Whilst I can’t imagine there will be a rate change, the comments from Chairlady Janet Yellen may well create market movements. The US markets are being almost entirely dictated by Trump’s policies and how the Federal Reserve will respond, so this will certainly be something to look out for next week.